Rio Tinto and Chalco invest in the mining sector in Guinea
9 August 2010
Anglo-Australian mining group Rio Tinto has entered into a joint venture with the Chinese company Chalco to exploit an iron mine in south east Guinea.
Rio Tinto announced on Tuesday 3 August in a press release picked up by AFP that it intended to invest 170 million dollars in this project.
This investment will specifically enable the railway, port installations and mining infrastructure to be improved in order to extract iron ore in Simandou, in south east Guinea.
The Prime Minister of Equatorial Guinea, Ignacio Milam Tang, welcomed the contribution by China to the development of the infrastructures in his country, during an interview last week with the Chinese State Councillor Dai Bingguo.
"The authorities of Equatorial Guinea welcome the assistance given by China to the economic development of our country(…) Our government wants to increase trade with our Chinese friends in order to strengthen this cooperation", he stated to the New China Agency.